Cathay Land, Inc. in a joint venture with British outlet mall specialist developer and operator Freeport Retail is investing P2.5 billion into the Philippines’ very first pure Outlet mall called Acienda Designer Outlet. Jeffrey Ng, Cathay Land president, said construction is now on its final stages in a 20-hectare property in Silang, Cavite, which is just a 10-minute drive from Tagaytay City Rotunda along Km. 48 Aguinaldo Highway. “Partners can expect their units to be turned over for fit-out starting this March and full opening on August 2 this year,” Ng said. The mall will feature designer finds in four themed sections: Italian, French, New England and Spanish. In between shopping rounds, they can gas up at a French-style food & beverage section with a windmill as the central icon. Theatrical lighting, water features and live performances are also planned for their enjoyment. In constructing the Outlet mall, Ng noted that most of the major capital cities worldwide have outlet malls.Metro Manila and its over 12 million population is perhaps the only one that does not have an Outlet. “With the construction of the Cavite-Laguna Expressway in full blast… our Acienda Designer Outlet will only be 30 minutes away from NAIA and the Entertainment City. Thus, now is the right time to introduce a world-class Outlet experience to Manilans and the nearby provinces,” he added. The location of Acienda boasts of a catchment area of 16.5 million locals and tourists with above average incomes and a high level of fashion consciousness. “With Tagaytay City being a popular tourist destination among locals and tourists, we are confident that they will all enjoy our promise of high quality Outlet shopping at par with what they experience abroad,” Ng added. He said, “We expect that phenomenal growth of world class outlet malls to be duplicated here in the Philippines mainly due to rising incomes locally, remittances from abroad and tourist arrivals that will hit 10 million a year in the next few years.” This bullishness has led the joint venture to plan for their next Outlet mall. Freeport Retail is now identifying strategic locations for a second Outlet mall with target opening date in three years. Chris Milliken, co-founder and Commercial Director of Freeport Retail, expressed confidence in their new commercial development, saying: “Over the past decade the Outlet format has been hugely successful with massive sales growth worldwide. For instance, Kuala Lumpur has three Outlets now but had zero a few years back.” The most recent of the outlet mall specialist is Freeport A’famosa in Malacca, Malaysia, which opened in November 2015. “We are extremely pleased to partner with Cathay Land for Acienda Designer Outlet. The Outlet format is an established and mainstream retail channel that works for brands, retailers and of course, the consumers. Since we started back in 1992, Freeport has developed Outlets throughout Europe,” he said. “In 2012 we started our focus on Asia, which is a major Outlet opportunity. Our Outlet village in Malaysia opened at the end of 2015.” Cathay Land has more than 1,000 hectares of landbank in the Sta. Rosa-Silang-Tagaytay growth corridor, which Ng said is already ripe for development because of the new Cavite-Laguna Expressway. “Just like with Acienda Designer Outlet and South Forbes Golf City, investors and homebuyers alike can expect only world-class property developments from Cathay Land in the next few years,” he said.